Why is Indian Renewable falling/rising?

As of 25-Jul, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 153.25, reflecting a decrease of Rs 3.0 or 1.92%. The stock has been on a downward trend, losing value for the last two days with a total decline of 2.33% during this period. It has underperformed significantly over the past week and month, with returns of -2.64% and -10.72%, respectively. The stock is trading below its moving averages across various timeframes, indicating a bearish sentiment. Additionally, the stock's performance has been negatively impacted by flat quarterly results, with a substantial drop in profit before tax and profit after tax compared to previous quarters. Although there are strong long-term fundamentals, such as a healthy return on equity and growth in net sales, the recent performance has led to a decline in investor participation, as evidenced by a 32.04% drop in delivery volume.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.36% over the past week. This indicates that while the overall market has experienced a slight downturn, Indian Renewable's performance has been significantly worse, highlighting its underperformance relative to the market. The company's valuation concerns, coupled with a PEG ratio of 0.9 and a substantial decline in stock returns over the past year, further exacerbate the situation. Despite some positive factors, such as increased institutional investor participation, the overall sentiment remains negative, contributing to the stock's decline.